KINERJA KEUANGAN DAN EFISIENSI TERHADAP RETURN SAHAM PERBANKAN DI BURSA EFEK INDONESIA PERIODE 2007-2011
Abstrak: This research
analysis of the factors that affect stock returns of banks listed on the
Indonesia Stock Exchange during the period 2007-2011. This study applies panel
data regression model to measure the effect of the two groups of independent
variables of financial performance, and efficiency of the bank. The financial
performance variables consisted of capital adequacy ratio (CAR), non-performing
loans (NPL), return on equity (ROE), loans deposit ratio (LDR) and a net
interest margin (NIM), while the variable banks efficiency, are operating
expenses and operating income (BOPO), and Data Envelopment Analysis (DEA) of
the bank stock returns. The empirical results showed variable CAR, NPL, ROE,
LDR, and NIM as an indicator of financial performance affects bank stock
returns are negative and significant. While variable ROA ratio as an indicator
of the efficiency of banks affect bank stock returns are negative and
significant. Variable of DEA as an indicator of the efficiency of banks,
affects bank stock returns positively and significantly. Financial variables
are proxied by the ratio of CAR, NPL, ROE, NIM, and LDR, and bank efficiency
variable proxied by ROA ratios and DEA methods significantly affect jointly
return of bank stocks listed on the Indonesia Stock Exchange. These empirical
findings are partly consistent with the hypothesis of the study, while t
different with the hypothesis of the study
Penulis: Joni Devitra
Kode Jurnal: jpakuntansidd130126
